The Federal Reserve is proposing another round of "quantitative easing"

Ellen Brown, Truthout: "The Federal Reserve is proposing another round of 'quantitative easing,' although the first round failed to reverse deflation. It failed because the money went to banks, which failed to lend it on. The Fed needs to funnel the money directly to state and local economies. It may not be authorized to 'monetize' state bonds, but it COULD buy bonds issued by state-owned banks."

http://www.truth-out.org/time-helicopter-ben-drop-some-money-main-street63075



It's the Mortgages, Stupid

Robert Scheer, Truthdig: "This week's proposals by the Obama administration to deal with the persistent economic crisis will be, as with previous plans that involved trillions of taxpayer dollars, little more than salt in the wounds. Once again the strategy is to stimulate the economy by funding projects and tax cuts while ignoring the root cause of the problem: a housing foreclosure meltdown that has chilled the spending of a majority of American consumers."

http://www.truth-out.org/robert-scheer-its-mortgages-stupid63067



The Tortoise Economy

Robert Reich, Robert Reich's Blog: "Word from the twelve Federal Reserve Banks, summarized in the Fed's so-called 'Beige Book,' shows the economy slowing in July and August. Duh. But the Fed is quick to point out the economy overall is still growing - even though it's growing more slowly than in the spring. Can we have a moment of realism here, please? In 2008 and 2009 the economy fell into the deepest hole it's been in since the Great Depression. Since then we've been struggling to get out. We're failing big time."

http://www.truth-out.org/robert-reich-the-tortoise-economy63102

--------

The Wholly Fallible Ben Bernanke
http://www.commondreams.org/view/2010/09/09-5



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